LME Just closed the doors

This year two LTL close their doors, yet YRC seems to be doing fine.

 

Lme has always played below the bar and it finally caught up with em .

 

Was it worst than nemf.

 

ill be honest, i have no idea.

 

Hmmm. Define "fine." Lol

 

1 Open trucking company
2 Hire few drivers and not pay them for few weeks
3 Close door after that
PROFIT!
Repeat in next state. Nice fast income

 

It has everything to do with it. The withdrawal penalties from exiting Central States Pension Fund for them is over 90 million. Do the math. The current and future retirees they had would never have even come close to receiving benefits amounting to that. A union ravaged by corruption for decades, poorly run pension fund that is nothing more than a legal form of a ponzi scheme, all that have been warned since the early 80s it was not sustainable. That #$%@show would bankrupt even the largest of companies many times even faster than the small ones. Every time a company goes down the withdrawal penalties get spread across the remaining signatory employers. Theres much more to this story than just employers running with the $. As a union member for over 30 yrs I have seen this storm brewing since my beginnings.

 

Minnesota trucking company abruptly closes, hundreds of employees left without work

 

The Trucking Answers guy has a video on YouTube and according to him they were supposed to pay out the $1.2mil or so from a lawsuit when they closed to break the union and then started back up again. His video said that was supposed to happen later this month. So if that’s true then it’s double crappy what they’ve done.

 

It’s a #### hole company that’s for sure. I’m not surprised.

Yeah they closed their doors before the holidays a few years ago and told their drivers to kick rocks and didn’t pay them.

THEN the bought about 100 new tractors a couple weeks later and a new warehouse and called it FLE, instead of LME. that’s how they got the union out.

I used to work for a company that did all their DEF and fuel. I’ve been to all of their terminals. Just a sketchy company.

I’m sure they owe my old boss thousands in fuel and def because I bet they never paid their last bill.

 

^local 120??? Thankfully I’m on highway heavy pension now...

LME is a #### hole company and the owner and his wife need to be in jail.

Closed down to get the union out and buys a new warehouse and a 100 tractors and starts a scab company and calls it FLE.

I don’t know why anyone in Minneapolis would work for him. I see why people would in other places though. A lot of the terminals were in the boondocks with not much opportunity around.